Americans can’t afford not to have Medicare For All.
Proposed funding sources for M4A include a 4% income tax, which means a family of four earning $75,000 per year would pay an additional $2,000 in taxes after taking a standard deduction. But that family would no longer pay an invisible tax of $7,674 — the average premium paid to private insurers — for an immediate savings of $5,674. In addition, it would no longer have to pay an average $4,704 in out-of-pocket costs. That’s a savings of more than $10,000 per year.
Who wouldn’t take that deal? Granted, the $10,000 average includes the costs of expensive care that families don’t need every year. But at a time when two-thirds of American households say they don’t have $1,000 for an emergency, it’s protection well worth having.
Some more numbers on the savings Medicare for All would give us.